Not only is Michelle Smith, the darling designer behind the brand Milly, collaborating with Banana Republic for the first time, but her limited-edition capsule collection—inspired by the Hamptons—will also be her first foray into menswear.

The 60-piece capsule will be available come May 2013 and will include men's clothing ($24.50–$64.50), women's apparel ($45–$175), jewelry ($39.50), and totes ($130). Expect six updated classic Milly patterns as well as a special one created just for Banana Republic, vintage inspiration, and lots of bright colors like coral and lime. The ladies' collection offers 46 styles, such as woven color-block maxi dresses, patterned shorts, and jacquard frocks; while the guy's collection of 16 pieces will incorporate vibrant V-neck tees, button-down knit tops, and printed shorts.

"We wanted to focus on the vibrant colors and optimistic patterns that highlight the inspiring, fun-loving summer season," says Banana Republic creative director and executive vice president of design, Simon Kneen. "Michelle's keen sense of color, print, and pattern are the perfect complement to Banana Republic, and her Hamptons-chic style is a new take on aspirational summer dressing for our consumers."

In anticipation of the new duds, we received this sketch of the goods to come.